Crude oil prices keep the negative mood near $50.00/bbl. Prices of the WTI stay depressed and close to YTD lows. US crude oil inventories rose by around 3.6M barrels last week. Prices of the barrel of West Texas Intermediate remain under pressure on Wednesday and are approaching the critical $50.00 mark in the wake of the EIA’s weekly report. WTI offered near $50.00/bbl WTI stays offered after the EIA reported another weekly build in US crude oil supplies, this time by 3.577M barrels. In addition, Weekly Distillate Stocks increased by 2.610M barrels and Gasoline inventories dropped by 0.764M barrels, bettering expectations. Further out, supplies at Cushing went up by 1.177M barrels, offsetting last week’s 0.116M barrels draw. WTI remains cautious, and rallies limited, amidst unabated concerns regarding oversupply (particularly following the uptrend in US output) and prospects of shrinking global demand for the next months. In the meantime, and ahead of the OPEC+ meeting next week, Russia and Nigeria said it is still premature to announce any production curb, while Saudi Arabia stressed earlier today it will not be the sole oil producer cutting its production. Looking ahead, Baker Hughes will release its weekly report on the US drilling activity on Friday. WTI significant levels At the moment the barrel of WTI is retreating 1.88% at $51.02 facing immediate contention at $50.19 (2018 low Nov.27) seconded by $48.92 (monthly low Oct.6 2017) and then $45.60 (monthly low Aug.31 2017). On the flip side, a break above $53.74 (21-day SMA) would open the door to $57.42 (21-day SMA) and finally $57.94 (high Nov.16). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum Technical Analysis: ETH/USD gearing up at the launch station FX Street 4 years Crude oil prices keep the negative mood near $50.00/bbl. Prices of the WTI stay depressed and close to YTD lows. US crude oil inventories rose by around 3.6M barrels last week. Prices of the barrel of West Texas Intermediate remain under pressure on Wednesday and are approaching the critical $50.00 mark in the wake of the EIA's weekly report. WTI offered near $50.00/bbl WTI stays offered after the EIA reported another weekly build in US crude oil supplies, this time by 3.577M barrels. In addition, Weekly Distillate Stocks increased by 2.610M barrels and Gasoline inventories dropped by 0.764M barrels, bettering… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.